IT-ITeS growth in 2013 depends on spending in N America, Europe

IT-ITeS growth in 2013 depends on spending in N America, Europe New Delhi: The growth of Indian IT-ITeS companies will depend on the global economic scenario as well as information technology spending in North America and Europe this year, Parliament was informed on Friday.

"The growth of all the IT-ITeS firms including mid-sized firms would depend on the global economic scenario and IT spending in the major markets of North America and Europe in 2013," Minister of State for Communications and IT Milind Deora said in a written reply in Rajya Sabha.

However, industry-body Nasscom estimates that India's IT-Information Technology Enabled Services (IT-ITES) exports rose to USD 75.8 billion in 2012-13 fiscal from USD 68.7 billion in 2011-12 fiscal, he added.

As per government data, IT-ITES exports are estimated to have risen by 23.4 percent at about Rs 4.11 lakh crore in the current fiscal from Rs 3.32 lakh crore in the 2011-12 fiscal.

The government in the National Policy on Information Technology (NPIT) 2012 envisages to increase IT industry revenues, through exports as well as the domestic market, from USD 100 billion to USD 300 billion by 2020.

PTI